FEDERAL DEPOSIT INSURANCE CORPORATION

12 CFR Ch. III

Semiannual Agenda of Regulations

AGENCY: Federal Deposit Insurance Corporation.

ACTION: Semiannual regulatory agenda.

SUMMARY: The Federal Deposit Insurance Corporation (FDIC) is hereby publishing items for the Fall 2018 Unified Agenda of Federal Regulatory and Deregulatory Actions. The agenda contains information about FDIC's current and projected rulemakings, existing regulations under review, and completed rulemakings.

FOR FURTHER INFORMATION CONTACT: Robert E. Feldman, Executive Secretary, Federal Deposit Insurance Corporation, 550 17th Street NW, Washington, DC 20429.

SUPPLEMENTARY INFORMATION: Twice each year, the FDIC publishes an agenda of regulations to inform the public of its regulatory actions and to enhance public participation in the rulemaking process. Publication of the agenda is in accordance with the Regulatory Flexibility Act (5 U.S.C. 601 et seq.). The FDIC amends its regulations under the general rulemaking authority prescribed in section 9 of the Federal Deposit Insurance Act (12 U.S.C. 1819) and under specific authority granted by the Act and other statutes.

Proposed Rule Stage:

Removal of Transferred Office of Thrift Supervision Regulations Regarding Lending and Investment and Amendments to FDIC Rules and Regulations (3064-AE22)

In this rulemaking, the Federal Deposit Insurance Corporation (FDIC) will be proposing to rescind and remove from the Code of Federal Regulations 12 CFR part 390, subpart P, entitled Lending and Investment (part 390, subpart P). This subpart was included in the regulations that were transferred to the FDIC from the Office of Thrift Supervision on July 21, 2011, in connection with the implementation of applicable provisions of title III of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Upon removal of part 390, subpart P, all insured depository institutions for which the FDIC is the appropriate Federal banking agency will follow the safety and soundness standards contained in 12 CFR part 364 of the FDIC's Rules and Regulations and the real estate lending standards found in 12 CFR part 365 of the FDIC's rules.

Depository Institution Management Interlocks Act Asset Threshold Adjustment (3064-AE57)

The OCC, Board, and the FDIC are seeking comment on a joint proposed rule to revise their respective regulations that implement the Depository Institution Management Interlocks Act (DIMIA). The proposed rule would adjust asset thresholds for the DIMIA major asset prohibition, which prohibits management officials for depository institutions with assets in excess of specified levels from engaging in management interlocks (an individual may not serve as an official of two unaffiliated depository institutions with assets in excess of the specified levels). The levels are currently set at $2.5 billion and $1.5 billion. Based on inflation or market changes, current inflation adjusted thresholds would be $3.6 billion and $2.16 billion.

Disclosure of Financial and Other Information By FDIC-Insured State Nonmember Banks (3064-AE65)

The Federal Deposit Insurance Corporation (FDIC) proposes to rescind and remove 12 CFR part 350, entitled Disclosure of Financial and Other Information By FDIC-Insured State Nonmember Banks. Upon the removal of part 350, all insured State nonmember banks and insured State-licensed branches of foreign banks (collectively, banks) will no longer be subject to the disclosure requirements found in part 350. The financial and other information that has been subject to disclosure by individual banks pursuant to part 350 is publicly available through the FDIC's website.

*Regulatory Capital Treatment for Investments in Long-Term Debt Instruments (3064-AE79)

The OCC, Board, and the FDIC (the Agencies) will seek comment on a joint proposed rule which revises the regulatory capital rule to require Advanced Approaches banking organizations to deduct TLAC instruments from tier 2 capital, including any significant investments in covered debt instruments, a reciprocal cross-holding, or a direct, indirect, or synthetic investment in the banking organization's own covered debt instrument.

*Standardized Approach for Counterparty Credit Risk (3064-AE80)

The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency (together, the Agencies) are requesting public comment on a proposal that would implement a new approach for calculating the exposure amount for derivative contracts under the agencies' regulatory capital rules. The proposed approach, the standardized approach for counterparty credit risk (SA-CCR), would replace the Current Exposure Method (CEM) in the capital rules' advanced approaches for calculating risk-weighted assets. The proposal also would require advanced approaches banking organizations to determine the exposure amount for derivative contracts using SA-CCR for purposes of calculating its standardized total risk-weighted assets. The proposal would allow non-advanced approaches banking organizations to use either CEM or SA-CCR to determine the exposure amount for derivative contracts.

*Capital Rule: Supplementary Leverage Ratio Amendments for Custodial Banks (3064-AE81)

Section 402 of the Economic Growth, Regulatory Relief, and Consumer Protection Act, which requires the federal banking agencies to propose changes to the supplementary leverage ratio denominator for custody banks, the FDIC, the Board of Governors of the Federal Reserve System, and the Office of the Comptroller of the Currency intend to publish a new rule to implement section 402.

*Short-Form Call Report (3064-AE82)

The FDIC, OCC, and Board (the Agencies) are seeking comment on a joint proposed rule to implement section 205 of the Economic Growth, Regulatory Relief, and Consumer Protection Act. Section 205 generally requires the Agencies to jointly issue regulations that allow for a reduced reporting requirement for certain smaller institutions when such institutions submit their statutorily required first and third quarterly reports of condition and income.

*Annual Stress Test (3064-AE84)

Pursuant to section 165(i)(2) of the Dodd-Frank Act, the OCC, Board, and FDIC have issued consistent and comparable rules to require banks with over $10 billion in total consolidated assets to conduct annual company run stress tests. Section 401 of the Economic Growth, Regulatory Reform, and Consumer Protection Act amended section 165(i)(2) to raise the applicability threshold from $10 billion to $250 billion in total consolidated assets, and to make other changes. The FDIC plans to initiate a rulemaking to conform its implementing regulations, 12 CFR 325, to these statutory changes.

*Exemption from Appraisal Requirements for Certain Transactions Involving Real Property in Rural Areas (3064-AE87)

*Reciprocal Deposits (3064-AE89)

The FDIC is implementing Section 202 of the Economic Growth, Regulatory Relief, and Consumer Protection Act by incorporating the new reciprocal deposit exception into the FDIC's regulations on brokered deposits.

*Regulatory Capital Treatment for High Volatility Commercial Real Estate Acquisition, Development, or Construction Exposure (3064-AE90)

In accordance with Section 214 of the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA or the statute), which was enacted on May 24, 2018, the OCC, FRB, and the FDIC are issuing a notice of proposed rulemaking (NPR) that would revise the existing capital rules to replace the definition of high volatility commercial real estate (HVCRE) exposure with the statutory definition of high volatility commercial real estate acquisition, development, or construction (HVCRE ADC) loan. To facilitate the consistent application of the HVCRE ADC exposure definition, the agencies seek robust comment on the interpretation of the HVCRE ADC loan definition. Finally, the NPR would rescind the frequently asked questions (FAQs) relating to the HVCRE exposure definition.

*Community Bank Leverage Ratio (3064-AE91)

In accordance with Section 201 of the Economic Growth, Regulatory Relief, and Consumer Protection Act, which was enacted on May 24, 2018, the FDIC is issuing a notice of proposed rulemaking (NPR) that would revise the existing capital rules to include a new community bank leverage ratio in the FDIC's capital regulations.

*Brokered Deposits (3064-AE94)

The FDIC seeks comment on possible changes to the FDIC's rule on brokered deposits.

Final Rule Stage:

Transferred Office of Thrift Supervision Regulations Regarding Fiduciary Powers of State Savings Associations and Consent Requirements for the Exercise of Trust Powers (3064-AE23)

The Federal Deposit Insurance Corporation (FDIC) proposes to rescind and remove from the Code of Federal Regulations the part entitled Fiduciary Powers of State Savings Associations and to amend current FDIC regulations regarding consent to exercise trust powers to reflect the applicability of these parts to both State savings associations and State nonmember banks.

Net Stable Funding Ratio: Liquidity Risk Measurement Standards and Disclosure Requirements (3064-AE44)

The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation invited comment on a proposed rule that would implement a stable funding requirement, the net stable funding ratio (NSFR), for large and internationally active banking organizations. The NSFR requirement is designed to reduce the likelihood that disruptions to a banking organization's regular sources of funding will compromise its liquidity position, as well as to promote improvements in the measurement and management of liquidity risk. The rule also amended certain definitions in the liquidity coverage ratio rule that are also applicable to the NSFR. The NSFR requirement would apply beginning on January 1, 2018, to bank holding companies, certain savings and loan holding companies, and depository institutions that, in each case, have $250 billion or more in total consolidated assets or $10 billion or more in total on-balance sheet foreign exposure, and to their consolidated subsidiaries that are depository institutions with $10 billion or more in total consolidated assets. In addition, the Board proposed a modified NSFR requirement for bank holding companies and certain savings and loan holding companies that, in each case, have $50 billion or more, but less than $250 billion, in total consolidated assets and less than $10 billion in total on-balance sheet foreign exposure. Neither the proposed NSFR requirement nor the proposed modified NSFR requirement would apply to banking organizations with consolidated assets of less than $50 billion and total on-balance sheet foreign exposure of less than $10 billion. A bank holding company or savings and loan holding company subject to the proposed NSFR requirement or modified NSFR requirement would be required to publicly disclose the company's NSFR and the components of its NSFR each calendar quarter.

Loans in Areas Having Special Flood Hazards--Private Flood Insurance (3064-AE50)

The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Farm Credit Administration, and the National Credit Union Administration have issued a new proposal to amend their regulations regarding loans in areas having special flood hazards to implement the private flood insurance provisions of the Biggert-Waters Flood Insurance Reform Act of 2012. Specifically, the rule would require regulated lending institutions to accept policies that meet the statutory definition of private flood insurance in the Biggert-Waters Act and permit regulated lending institutions to accept flood insurance provided by private insurers that does not meet the statutory definition of private flood insurance on a discretionary basis, subject to certain restrictions.

Simplifications to the Capital Rule Pursuant to the Economic Growth and Regulatory Paperwork Reduction Act of 1996 (EGRPRA) (3064-AE59)

In March 2017, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (collectively, the Agencies) submitted a report to Congress pursuant to the Economic Growth and Regulatory Paperwork Reduction Act of 1996, in which they committed to meaningfully reduce regulatory burden, especially on community banking organizations. Consistent with that commitment, the agencies invited public comment on a notice of proposed rulemaking that would simplify compliance with certain aspects of the capital rule. A majority of the proposed simplifications would apply solely to banking organizations that are not subject to the advanced approaches capital rule (non-advanced approaches banking organizations). Specifically, the agencies proposed that non-advanced approaches banking organizations apply a simpler regulatory capital treatment for: (i) Mortgage servicing assets; (ii) certain deferred tax assets arising from temporary differences; (iii) investments in the capital of unconsolidated financial institutions; and (iv) capital issued by a consolidated subsidiary of a banking organization and held by third parties (minority interest). More generally, the proposal also includes revisions to the treatment of certain acquisition, development, or construction exposures that are designed to address comments regarding the current definition of high volatility commercial real estate under the capital rule's standardized approach. The proposed revisions to the treatment of acquisition, development, or construction exposures would not apply to those exposures that are outstanding or committed prior to the proposed rule's effective date. In addition to the proposed simplifications, the Agencies also proposed various additional clarifications and technical amendments to the agencies' capital rule, which would apply to both non-advanced approaches banking organizations and advanced approaches banking organizations.

Proposed Revisions to Prohibitions and Restrictions on Proprietary Trading and Certain Interests in, and Relationships With, Hedge Funds and Private Equity Funds (Volcker Rule) (Volcker Rule) (3064-AE67)

The OCC, Board, FDIC, SEC, and CFTC (individually, an 'Agency,' and collectively, the Agencies) are requesting comment on a proposal that would amend the regulations implementing section 13 of the Bank Holding Company Act (BHC Act). Section 13 contains certain restrictions on the ability of a banking entity and nonbank financial company supervised by the Board to engage in proprietary trading and have certain interests in, or relationships with, a hedge fund or private equity fund. The proposed amendments are intended to provide banking entities with clarity about what activities are prohibited and to improve supervision and implementation of section 13.

Margin and Capital Requirements for Covered Swap Entities (3064-AE70)

The Board, OCC, FDIC, FCA, and FHFA (each an Agency and, collectively, the Agencies) sought comment on proposed amendments to the minimum margin requirements for registered swap dealers, major swap participants, security-based swap dealers, and major security-based swap participants for which one of the Agencies is the prudential regulator (Swap Margin Rule). The Agencies proposed these amendments in light of the rules recently adopted by the Board, the OCC, and the FDIC that impose restrictions on certain non-cleared swaps and non-cleared security-based swaps and other financial contracts (Covered QFCs) (the QFC Rules). The QFC Rules amend the definition of Qualifying Master Netting Agreement in the Federal banking agencies' regulatory capital and liquidity rules to ensure that a Covered QFC is not prevented from being part of a Qualifying Master Netting Agreement solely because the Covered QFC conforms to the new requirements in the QFC Rules. The FCA proposed amendments to its capital rules, including potential revisions to its regulatory definition of Qualifying Master Netter Agreement, which is expected to be identical to the definition used in the Federal banking agencies' regulatory capital and liquidity rules. The Agencies proposed to amend the definition of Eligible Master Netting Agreement in the Swap Margin Rule so that it remains harmonized with the amended definition of Qualifying Master Netting Agreement in the Federal banking agencies' regulatory capital and liquidity rules, and amendments to the capital rules that the FCA separately plans to propose. This rule ensures that netting agreements of firms subject to the Swap Margin Rule are not excluded from the definition of Eligible Master Netting Agreement" based solely on their compliance with the QFC Rules. The Agencies also proposed that any legacy non-cleared swap or non-cleared security-based swap (i.e., a non-cleared swap or non-cleared security-based swap entered into before the applicable compliance date) that is not subject to the margin requirements of the Swap Margin Rule would not become subject to the provisions of the Swap Margin Rule if the non-cleared swap or non-cleared security- based swap is amended solely to comply with the requirements of the QFC Rules.

Regulatory Capital Rule: Implementation and Transition of the Current Expected Credit Losses Methodology for Allowances and Related Adjustments to the Regulatory Capital Rule and Conforming Amendments (3064-AE74)

The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (collectively, the Agencies) invited public comment on a joint proposal to address changes to U.S. generally accepted accounting principles (U.S. GAAP) described in Accounting Standards Update No. 201613, Topic 326, Financial Instruments Credit Losses (ASU 201613), including banking organizations' implementation of the current expected credit losses methodology. Specifically, the proposal would revise the agencies' regulatory capital rules to identify which credit loss allowances under the new accounting standard are eligible for inclusion in regulatory capital and to provide banking organizations the option to phase in the day-one adverse effects on regulatory capital that may result from the adoption of the new accounting standard. The proposal also would amend certain regulatory disclosure requirements to reflect applicable changes to U.S. GAAP covered under ASU 201613. In addition, the Agencies are proposing to make amendments to their stress testing regulations so that covered banking organizations that have adopted ASU 201613 would not include the effect of ASU 201613 on their provisioning for purposes of stress testing until the 2020 stress test cycle. Finally, the Agencies are proposing to make conforming amendments to their other regulations that reference credit loss allowances.

*Rules of Practice and Procedure (3064-AE75)

The Federal Deposit Insurance Corporation (FDIC) proposes to amend its rules of practice and procedure under 12 CFR part 308 to: (1) Remove most of the duplicative descriptive language related to civil money penalty (CMP) amounts that is similar to current statutory language, (2) codify in the FDIC's regulations the mandatory statutory formula for inflation adjustments to maximum CMP amounts, and (3) direct readers to the Federal Register rather than the Code of Federal Regulations (CFR) for future annual adjustments to maximum CMP amounts due to inflation. These revisions are intended to simplify the text of the CFR by removing unnecessary and redundant text and to make it easier for readers to locate the current maximum CMP amounts by presenting these amounts as a chart.

*Expanded Examination Cycle for Certain Small Insured Depository Institutions (3064-AE76)

The Office of the Comptroller of the Currency, Treasury; Board of Governors of the Federal Reserve System; and Federal Deposit Insurance Corporation (collectively, the Agencies) are jointly issuing and requesting public comment on interim final rules to implement section 210 of the Economic Growth, Regulatory Relief, and Consumer Protection Act (the Act), which was enacted on May 24, 2018. Section 210 of the Act amends section 10(d) of the Federal Deposit Insurance Act to permit the Agencies to examine qualifying insured depository institutions with less than $3 billion in total assets no less than once during each 18-month period. Prior to enactment of the Act, only qualifying insured depository institutions with less than $1 billion in total assets were eligible for an 18-month on-site examination cycle. The interim final rules generally would allow well-capitalized and well-managed institutions with less than $3 billion in total assets to benefit from the extended 18-month examination schedule. In addition, the interim final rules make parallel changes to the Agencies' regulations governing the on-site examination cycle for U.S. branches and Agencies of foreign banks, consistent with the International Banking Act of 1978.

*Liquidity Coverage Ratio Rule: Treatment of Certain Municipal Obligations as Level 2B High-Quality Liquid Assets (3064-AE77)

Pursuant to the Economic Growth, Regulatory Relief, and Consumer Protection Act, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (collectively, the Agencies) are jointly issuing and seeking comment on an interim final rule to add liquid and readily-marketable, investment-grade municipal obligations to the list of assets eligible to be included in high-quality liquid assets under the Agencies' Liquidity Coverage Ratio rule.

*Volcker Rule Community Bank Relief and Removing Naming Restrictions (3064-AE88)

The FDIC, Board, OCC, CFTC, and SEC seek to implement Sections 203 and 204 of the Economic Growth, Regulatory Relief, and Consumer Protection Act through a notice of proposed rulemaking. Section 203 exempts from the Volcker Rule banks with: (1) Total assets valued at less than $10 billion, and (2) trading assets and liabilities comprising not more than 5% of total assets. Section 204 eases Volcker Rule restrictions on entity name sharing in specified circumstances.

*Depository Institutions Management Interlocks Act Technical Final Rule (3064-AE92)

This final rule is being promulgated in connection with an adjustment of the thresholds for the major assets prohibition of the Depository Institutions Management Interlocks Act (DIMIA) (12 U.S.C. 3201 et seq.) that has been proposed jointly by the FDIC with the Office of the Comptroller of the Currency and the Board of Governors of the Federal Reserve System. The FDIC has decided to use this opportunity to make two purely technical corrections to FDIC Regulations, both pertaining to DIMIA implementation, by means of a separate final rule without notice and comment. The first correction pertains to 12 CFR 303.249 and would correct an erroneous statement. The second pertains to 12 CFR 348.4(i) and would correct a citation. The FDIC has concluded that good cause exists to publish this rule as final without a period of notice and comment and with an effective date as of the date of its publication in the Federal Register because this final rule will only make purely technical corrections and in no way affects any substantive requirements under the DIMIA or its implementing regulation.

Completed Actions:

Regulatory Capital Rules: To Rescind the FDIC's Capital Rules That Are No Longer Effective

Following the Implementation of Capital Rules Consistent With Basel III (3064-AE51)

This final rule rescinded the capital regulations in part 325 and subparts Y and Z of part 390 of the FDIC's codified rules (the superseded capital rules) that were no longer effective following the January 1, 2015, implementation of the capital rules consistent with the Basel III initiatives. The final rule also made conforming changes to sections in the FDIC's codified rules that refer to the superseded capital rules. The FDIC concluded that good cause existed to publish this rule as final without a period of notice and comment and with an effective date as of the date of its publication in the Federal Register, because this rule rescinded the superseded capital rules and other sections of the FDIC's codified rules that refer to the superseded capital rules and imposes no new requirement on FDIC-supervised institutions.

Securities Transaction Settlement Cycle (3064-AE64)

The OCC and the FDIC (''Agencies'') adopted a final rule to shorten the standard settlement cycle for securities purchased or sold by national banks, federal savings associations, and FDIC-supervised institutions. The Agencies' final rule is consistent with an industry-wide transition to a two business-day settlement cycle, which is designed to reduce settlement exposure and align settlement practices across all market participants.

Annual Stress Test-Applicability Transition for Covered Banks with $50 Billion or More in Assets; Technical and Conforming Changes (3064-AE73)

This rulemaking is no longer relevant due to passage of the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA).

Long-Term Actions:

Incentive-Based Compensation Arrangements (3064-AD86)

The OCC, Board, FDIC, FHFA, NCUA, and SEC (the Agencies) sought comment on a joint proposed rule to revise the proposed rule the Agencies published in the Federal Register on April 14, 2011, and to implement section 956 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Section 956 generally requires that the Agencies jointly issue regulations or guidelines: (1) Prohibiting incentive-based payment arrangements that the Agencies determine encourage inappropriate risks by certain financial institutions by providing excessive compensation or that could lead to material financial loss; and (2) requiring those financial institutions to disclose information concerning incentive-based compensation arrangements to the appropriate Federal regulator.

Covered Broker-Dealer Provisions Under Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act (3064-AE39)

The Federal Deposit Insurance Corporation and the Securities and Exchange Commission, in accordance with section 205(h) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, jointly proposed a rule to implement provisions applicable to the orderly liquidation of covered brokers and dealers under title II of the Dodd-Frank Act.

Enhanced Cyber Risk Management Standards (3064-AE45)

On October 26, 2016, the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation published in the Federal Register an advance notice of proposed rulemaking (ANPRM) regarding enhanced cyber risk management standards for large and interconnected entities under their supervision and those entities' service providers. The ANPRM addresses five categories of cyber standards: cyber risk governance; cyber risk management; internal dependency management; external dependency management; and incident response, cyber resilience, and situational awareness. Due to the range and complexity of the issues addressed in the ANPRM, the public comment period was extended until February 17, 2017. This action allowed interested persons additional time to analyze the proposal and prepare their comments.

Source of Strength (3064-AE61)

The OCC, Board, and FDIC (the appropriate Federal banking agencies) are developing a joint Notice of Proposed Rulemaking which will be published in the Federal Register. The rule, when finalized, will implement section 616(d) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). That section of the Dodd-Frank Act requires the appropriate Federal banking agencies to jointly issue final rules that ensure that parent companies of subsidiary insured depository institutions serve as a source of financial strength for such institutions.

Quality Control Standards for Automated Valuation Models (3064-AE68)

The Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Federal Housing Finance Agency, and the Consumer Financial Protection Bureau are developing a rule to implement section 1473 of the Dodd-Frank Act concerning quality control standards for automated valuation models.

Customer Due Diligence (3064-AE69)

The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the National Credit Union Administration (collectively, the Agencies) are considering a proposal to amend the Agencies' Bank Secrecy Act compliance program rules applicable to banks, Federal and State savings associations, and credit unions. The Agencies plan to issue interim final rules related to recent amendments to the Financial Crimes Enforcement Network (FinCEN) customer due diligence rules for financial institutions under their supervision. As part of that rulemaking, FinCEN amended the elements of the anti-money laundering program financial institutions must implement and maintain in order to satisfy program requirements under 31 U.S.C. 5318(h)(1). The Agencies are amending their anti-money laundering program rules to maintain consistency with the FinCEN Rule.

*Uniform Rules of Practice and Procedure (3064-AE85)

The OCC, Board, FDIC, and NCUA (the Agencies) will seek comment on amendments to the Uniform Rules of Practice and Procedure applicable to adjudicatory proceedings before the Office of Financial Institution Adjudication (OFIA). The existing regulations have not been updated in thirty years. The goal of the rulemaking is to update the regulations to conform with current practice and technology.

*Appropriate Review of Appraisals for Compliance with USPAP (3064-AE86)

The FDIC plans to develop a joint notice of proposed rulemaking with the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the National Credit Union Administration (the Agencies) to implement section 1110 of Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (Title XI), as amended. Section 1110, as amended, requires that the Agencies prescribe appropriate standards for the performance of real estate appraisals in connection with federally related transactions, which requires at a minimum, among other things, that such appraisals be subject to appropriate review for compliance with the Uniform Standards of Professional Appraisal Practice.

*Resolution Plans (3064-AE93)

The FDIC and the Federal Reserve intend to amend their joint resolution planning regulations to reflect changes to the underlying statute made by the Economic Growth, Regulatory Relief, and Consumer Protection Act (Pub. L. No. 115-174, 132 Stat. 1296 (2018)).

*Appraisal Independence (3064-AE95)

Ensures that real estate appraisers are free to use their independent professional judgment in assigning home values without influence or pressure from those with interests in the transactions and seeks to ensure that appraisers receive customary and reasonable payments for their services.

Federal Deposit Insurance Corporation.

NAME: Valerie Best,

Assistant Executive Secretary.